Dragon Oil

Dragon Oil plc
Public limited company
Industry Oil
Founded 1971
Headquarters Dubai
Key people
 H. H. Sheikh Hamdan Bin Rashid Al Maktoum (Chairman)
Ali Al Jarwan (CEO)
Revenue US$1.155 billion (2012)[1]
US$790.9 million (2012)[1]
US$600.0 million (2012)[1]
Website www.dragonoil.com

Dragon Oil plc is an independent international oil and gas exploration, development and production business. It is based in Dubai and was listed on the Irish Stock Exchange until it was acquired by the Emirates National Oil Company.

History

The company was established as Oliver Prospecting & Mining Co. Limited in Ireland by Dr. Oliver Conor Waldron in 1971.[2] It changed its name to Dragon Oil in 1993 and invested in the Cheleken oilfield.[2] The Emirates National Oil Company bought a major stake in the company in 1998 and between 2002 and 2005 Dragon Oil raised capital for exploration.[2] In June 2015 the Emirates National Oil Company acquired the remaining 46% of Dragon Oil for £3.7 billion, becoming the sole owner of Dragon Oil.[3]

Operations

Its principal producing asset is at Cheleken, in the eastern section of the Caspian Sea, offshore from Turkmenistan.[4] It is also involved in exploration activities in Tunisia.[5]

References

  1. 1 2 3 Preliminary Results 2012
  2. 1 2 3 Dragon Oil: History
  3. ↑ "Dragon Oil shares are on fire after Emirates National Oil Company's bid success". Evening Standard. 15 June 2015. Retrieved 7 January 2015.
  4. ↑ Dragon Oil of Dubai is breathing fire The National, 24 January 2012
  5. ↑ Dubai-linked Dragon Oil to drill in Tunisia The National, 12 October 2011
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.